Abdul Rahmani, a previously registered broker and investment adviser, is under investigation by the Financial Industry Regulatory Authority (FINRA) for outside business activities, according to his BrokerCheck record accessed on August 25, 2020. He also has multiple disclosures related to employment separation after allegations. Two of those firms also alleged Mr. Rahmani engaged in outside business activities and failed to disclose those activities to his firm.
On August 5, 2020, FINRA initiated an investigation into Abdul Rahmani, Case # 20190636267. A preliminary determination recommended disciplinary action based on allegations that Mr. Rahmani engaged in outside business activities, in violation of FINRA Rule 3270. FINRA has strict requirements for brokers who engage in business activities outside of their position as a broker, including that they disclose any outside businesses to their member firm.
Mr. Rahmani’s detailed broker report lists his outside businesses as KQM Realty Corporation and First Manhattan Network Corporation.
FINRA further alleges that Abdul Rahmani violated FINRA Rule 8210 by providing false or misleading information during an on-the-record testimony. Rule 8210 states that brokers are required to provide documents and information at FINRA’s request.
Mr. Rahmani also has several disclosures related to his outside business activities that resulted in his termination from member firms:
- On December 15, 2017, Abdul Rahmani was fired from SW Financial following allegations that he hired a sales assistant and opened a branch office with another registered representative under the name of his outside business without the firm’s permission, in violation of FINRA Rule 3270. Before he left the firm, Mr. Rahmani had the sales assistant send pre-filled new account and account transfer firms of the clients that the other registered representative had serviced. These forms contained client names and other private details. Mr. Rahmani also forwarded an email containing a SW Financial New Account form and Check Draft authorization that a client had previously filled out to an unauthorized email account after his termination.
- On April 23, 2013, Mr. Rahmani was terminated from MML Investors Services LLC following allegations that he conducted an unapproved outside business activity while on special supervision.
- On March 14, 2003, Mr. Rahmani was permitted to resign from MetLife following allegations that he violated company policies, including apparent forgery and alteration of company documents.
Abdul Rahmani’s broker record also includes two civil judgements and one tax lien that total over $100,000.
Abdul Rahmani has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 6 Investment Company Products / Variable Contracts Representative Examination.
During his 18-year career, Mr. Rahmani has worked at the following firms:
- Joseph Stone Capital LLC (CRD #: 159744)
- Worden Capital Management LLC (CRD #: 148366)
- SW Financial (CRD #: 145012)
- Corinthian Partners LLC (CRD #: 38912)
- MML Investors Services LLC (CRD #: 10409)
- Ameritas Investment Corp (CRD #: 14869)
- Signator Investors, Inc. (CRD #: 468)
- Metlife Securities Inc. (CRD #: 14251)
- Metropolitan Life Insurance Company (CRD #: 4095)
If Abdul Rahmani was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.